i purchased a residential house for 70 lakhs in 2001 , and i want to sell it now ,
i am gettin 4 crores for it , to get exempt from LTCG tax do i have to invest the entire sale consideration or only upto the capital gain amout in another property?
do we take actual value or sale deed value for the purpose?
i want to buy new house worth 2 crores and invest the rest elsewhere
and can i purchase a commercial property or i have to buy a residential proper
and lastly can i purchase the new property in my son's name ??
thanks